I need help understanding how the mortgage will be handled.

Your licensed agent will also be versed in fair housing laws to help you avoid breaking rules and statutes you might not have known existed.2) Hire a property management company which will handle advertising, screening/placing tenants, collecting payments, handling repair calls, etc.

Personal Cash from previous flips How did you add value to the deal?

I personally would spend that much to fail a couple of times to learn.

@Dominic RichardsonTye market depends on your goals , as someone already mentioned here, and most importantly what you can handle.

Also, try to see if the lender will allow to buy under LLC for better assset protection; by doing personal gurantee. 

@Jennifer Burgener There’s really no reason to stay local with a 1031 company unless it’s just personal preference.

To be honest I do not send out a lot of letters and do not mass send things out so maybe I'm the wrong person to listen to.

It's harder to give you an accuracy rating of those numbers, because a lot of the numbers you call will go straight to VM, so you don't know for sure if it's the right person. 

The borrower is not personally liable for the loan, and the lender cannot seek additional repayment beyond the collateral.Since the borrower is not personally liable, they can choose to make larger or additional payments to pay down the loan faster if they wish.